political| 05:37 – 09/08/2021
Baghdad – Mawazine News
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, set, on Monday, the expected new selling price of oil within the draft federal budget law in Iraq for the year 2022, while specifying the condition for reducing the likely deficit in the new budget.
Saleh said, “The price of a barrel of exported oil in the estimates of the general budget for 2022 will be higher than the price approved in the current year’s budget of $45,” noting that “the increase in the new price will be from 15 to 20% over the current price.”
He added, “The price increase will depend on the price developments of crude oil in the global market at the beginning of next autumn,” noting that “in all cases, the amount of 52 dollars may be adopted as the price of a barrel of exported oil as a minimum, and the upper limit is 55 dollars, taking into account the increase In the quantities of production in light of the “OPEC Plus” agreement to gradually increase the quotas of member states, including Iraq, by two million barrels for all over the coming months.
He pointed out that “the expected deficit in the budget may decrease to 50% during the 2022 budget, provided that non-oil revenues increase and spending factors remain constant.” Ended 29 / h